Nissan Shareholders Voice Discontent as Earnings Remain Sluggish

Yokohama, June 23 (Jiji Press)--Shareholders of Nissan Motor Co. expressed strong dissatisfaction at an annual general meeting on Tuesday as the Japanese automaker's earnings and stock price remain sluggish despite restructuring efforts under new management.

At the meeting, held at the company's headquarters in Yokohama, south of Tokyo, the company proposed the appointment of 12 directors, including President and CEO Ivan Espinosa. However, shareholders rejected the reappointment of Motoo Nagai, who formerly worked at Mizuho Financial Group Inc., Nissan's main bank, due to doubts about his independence.

The other 11 directors were approved. Espinosa voluntarily returned a portion of his executive compensation.

At the start of the meeting, Espinosa said that the company has focused on implementing its business revitalization plan and has made steady progress despite ongoing uncertainties. He indicated that it will release a medium-term management plan in the second half of fiscal 2026.

However, shareholders criticized the management for the significantly dropped stock price and questioned the president's management capabilities.

[Copyright The Jiji Press, Ltd.]